Leadership and Management Leadership and management have been at the forefront of humanity's great achievements since time immemorial. The world has seen great leaders like Alexander, Napoleon, Winston Churchill etc., achieve seemingly impossible things. Likewise, history has seen great empires collapse due to a lack of leadership. Just to put things in today's context, a good national leader has the ability to add 2-3% to the national GDP in the short term and incremental growth in the long term and vice versa. Although leadership and management have various interconnected aspects, we must first understand them in isolation to later understand the interconnection, if any. Leadership can be explained as a process of social influence in which a person tends to influence a group or a people in achieving a common task. For some people, a leader is simply a person that people follow or someone who directs other people. Various leadership studies have been conducted which have led to great insights into leadership. The “trait theory of leadership” was one of the initial theories of leadership. According to this theory, leadership is based on certain attributes or traits, it also sought to explore the qualities or traits that define or distinguish an individual as a leader. In the 1940s and 1950s, however, as research focused on leadership gain, a series of reviews were conducted that pushed academics to take a drastically different view of the factors that define leadership. These reviews suggested that, although some attributes were common across a number of studies, the overall evidence supported that people who are leaders in a situation may not be… halfway through the paper… may not be good enough to survive much less grow in today's difficult environment. By taking a step further from leader to manager, one could ensure that he can get 120% out of his team. Leadership would obviously be one of the three key skills that a manager of today or tomorrow would need in abundance to carry out their tasks efficiently, other skills would be the ability to innovate (it would help to stay abreast of rapidly changing scenarios) and being tech-savvy would be the other major skill that would be required of a future manager, because technology is already redefining the way business activities are carried out and will continue to do so at an increasing rate in the foreseeable future. These leaders would be able to make their organizations flexible and agile, less hierarchical and much more innovative leading to better shareholder value creation .